Ukraine

In 2007, Marathon and Naftogaz Ukrainy (NAK) signed a cooperation agreement to carry out technical studies that could lead to the joint exploration for hydrocarbons in an area of interest in the Dnieper-Donets Basin located in North Central Ukraine.

The Dnieper-Donets Basin is believed to contain an estimated 7 trillion cubic feet of natural gas, 340 million barrels of gas condensate and 956 million barrels of oil. However, the recovery of these undiscovered resources is subject to considerable subsurface challenges and is dependent on the application of unique technologies.

Marathon and NAK will embark on a joint study of an agreed area of joint interest, covering approximately 10,000 square miles. The study will be conducted over the next three years during which time decisions will be made concerning further activities the companies may undertake.
This cooperation agreement is consistent with Marathon's efforts to seek out and access new resources that could lead to profitable growth opportunities.